Member Info for Herring

This is quite probable, we have the dual listing in feb and the further resource updates to come. There is also the possibilities of a takeover if the majors in the same area like the results of the drills.

well not quite the proverbial parrot, but the falling sp is not very conforting. i get a feeling they may wind the fund up, no evidence for this just a feeling

Well lets hope any deal thats done either with an interested 3rd party or with the bank gives a positive lift to the SP and that the european recovery is sustainable. time will tell. loved the discussion by the way! ATB Herring

looks like we are going to see this report in two different lights...... improving yield and vacancy rates do not overcome a drop in property value: Performance Over the year the portfolio performance, on a like for like basis, showed declines of 1.6 per cent. for the UK and 8.5 per cent. (in Euros) in Europe (2009: -35.4 per cent. and -18.1 per cent. respectively). The aggregate portfolio valuation was £238.7m at the year end, an overall decline on a like for like basis of 7.9 per cent. (2009: -26.7 per cent.). The UK portfolio delivered positive capital performance for each of the last three quarters of the year. In Europe the Company's property values have continued to fall but the last three quarters have shown the lowest rates of decline experienced since their valuation peaked in June 2007. At the year end the Company's NAV per share (IFRS basis) stood at -19.9p per share (2009: -13.8p) and the adjusted NAV was -4.7p per share (2009: 1.6p). Income generation has remained robust. Revenue earnings per share were 5.8p per share (2009: 3.7p). This is a pleasing result and reflects asset management efforts to retain and increase rental income as well as continued diligence in controlling costs. So yes in some respects things are improving but the property valuations in europe have not levelled out, yet. I would like nothing more than for them to turn it around as i hold them and have done for 17 months. Whatever way you look at it a NAV of -4.7p is not good. At least they are improving the debt situation, they have just offloaded another property today. But without extra funding how can they benefit from any future upturn?

And the bank could be waiting for input from these 3rd parties or alternatively it could be looking at shutting it down when it gets more favouable conditions. A possibility, no? The property portfolio in europe is haemorrhaging money and in the current climate of euro issues will continue to do so. A few rose tinted positives in an otherwise bleak report is not going to change the overall outlook of this share.

i did say something positive! if they could sort out the lending issues with the bank i think we would see IPI under a very different light. as it stands they are, as the report states being run as a going concern. hardly a reassuring turn of phrase.

the report was out on the 30th July. not the best of reading and updates with respect to takeovers and banking covenants showed that both were still being discussed with the banks and the 3rd parties involved. It is still being run as a going concern. The good news is the rent still actually pays 150%+ of the loans interest so we haven't yet broken all our baning covenants......

http://www.fresnilloplc.com/downloads/Fresnillo%20Interim%20results%20August%2010%2008-54-20.pdf

the tide should turn, but there is still a lot of negativity on the markets and commercial or for that matter residential property prices are not rocketing. Might have to wait till olympic year to see good returns on this. still the results and the refinancing were good, so i'm happy to hold.

i think we'll agree to disagree on this one. everyone who invests here should understand the risks. up to 33p for a successful phase 3 on the leukemia drug, 12p as it stands now or bust if it fails. remember that was a 1 billion pound blockbuster they lost. novartis was said to have lost 1% of its SP today, roughly 1 billion. the market doesnt lie!

yep they got cash, but they are already talking about job cuts and cost cutting to finish the trials they have now. with no third party cash input or fund raising activities they will chew through that money in 12 months. unless the other phase 3 drug is a success this will struggle.

i agree with PB, the loss of a potential blockbuster drug to a small pharma is nothing short of catastrophic. yes they have cash, but phase 3 trials eat cash, quickly. the chance of phase 3 success is 50/50, the second phase 3 trial is just beginning so any down payments due from this (if its successful) are a way off. of more concern to me is how did they misconstrue the phase 2 data so badly? was it the study or the analysis, or were they overly optomistic on marginal data? i would really like to hear the companies views on that!

win some lose some, hopefully you didn't lose anything.!. at least you're not stuck in at 22p.......

its the MMs fault! they decide the bid and ask prices to maximise profits.

errr try waiting? what did you buy them for, growth, dividend, or a quick in and out? if its the last one i think try elsewhere as these have been very static for months.

it was mentioned in the preliminary results just reported. it will depend on a shareholders vote at the agm in may with a consolidation of 10 shares into 1 new one. the idea is to reduce the share price volatility! lol, if this share was any less volatile it'd be dead.

Hi PB, hope you're well? What's your take on this company? i've watched it for a time but not invested. i'm tempted to because of the takeover rumours but cannot see how it can expect to continue growing if its revenues are going to be affected by the pull out of big pharma from r&d in the uk. i noticed its widening its testing base to include specialised metabolite/unknowns ID by mass spec but this is still very niche and customers tend to be big pharma.

the city is a leaky seive when it comes to news. i didnt see this coming but i should have heeded the share price movement! i bought AST at 2.15 rather than top up on this one. b*gger.

it will take a good couple of asset sells and an increase in the portfolio valuation to get us near that. What was the LTV level they broke through, 90%? still it looked a little rosier from their Feb update. if the spread tightens a little i may be tempted to top up.

a lot of people believe these are signals between MM's indicating what they want, eg more shares, a drop in the sp etc. i don't know if its true but it would make sense because no one in their right mind would trade 1 share!